Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (FSE: CCY) is pleased to announce its first sale of graphite from its wholly owned subsidiary, Sarcon Development (Pvt) Ltd (“Sarcon Development”), to the Korean market. The sale, which was for 300 kgs of vein graphite with carbon content of 95-97%, was to Elves Graphite Co, Ltd of Seoul, South Korea. The graphite was purchased to evaluate its suitability for battery manufacturers and other industries who use high-grade graphite in their manufacturing processes in South Korea.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (FSE: CCY) is pleased to announce its first sale of graphite from its wholly owned subsidiary, Sarcon Development (Pvt) Ltd (“Sarcon Development”), since the commencement of commercial production in December 2019. The sale, which was for 1 ton of vein graphite with Carbon content of 95-97%, was to 2D Materials Pte Ltd (“2D Materials”) of Singapore. 2D Materials purchased the graphite to evaluate it for its graphene production needs.

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (CYL.V) (CYLYF) (CCY.F) is very pleased to announce excellent results of Spheronization test work carried out at an independent facility with vein graphite from our K1 mine. Spheronization is a sizing and shaping process that micronizes and rounds the vein graphite particles. Spheronization is done to optimize the particle surface area to achieve the highest performance in the anode.

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (CYL.V) (CYLYF) (FSE: CCY) is very pleased to announce that it has achieved 99.9997% Cg purity utilizing a thermal purification process with vein graphite from our K1 Mine. In addition to these positive, high-purity graphite results, it is important to note that Thermal Purification is environmentally responsible and sustainable and does not utilize acids that are commonly regarded as dangerous and environmentally harmful. Hydrofluoric acid - as is a standard used in Chinese graphite purification for spherical graphite for battery grade graphite).

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (CYL.V) (CYLYF) (FSE: CCY) announces its intention to complete a non-brokered private placement of units (“Units”) at a price of $0.25 per Unit for gross proceeds of up to $3,500,000. Each Unit will be comprised of one common share in the capital of Ceylon Graphite (a “Unit Share”) and one whole warrant (“Warrant”), with each Warrant entitling the holder thereof to acquire one common share in the capital of Ceylon Graphite (“Warrant Share”) at a price of $0.30 per share for a period of two years from the date of issuance (collectively, the “Offering”). Closing of the Offering is subject to the approval of the TSX Venture Exchange and is anticipated to occur on or before January 31, 2020, or such other date as the Company may determine.

Ceylon Graphite Corp. (“Ceylon” or “Company”) (CYL.V) further to the press release filed on SEDAR on December 6, 2019, Ceylon announces that it closed the second tranche of its previously announced non-brokered private placement of units. On December 6, 2020, Company issued a total of 2,500,000 units (“Units”) at a price of $0.08 per Unit for aggregate gross proceeds of $200,000, which combined with the first tranche that closed on October 17, 2019, brings the aggregate proceeds to $1,000,000. Each Unit is comprised of one (1) Ceylon Common Share and one warrant ("Warrant"), with each Warrant entitling the holder thereof to acquire one (1) Ceylon Common Share at a price of $0.15 per share for a period of two (2) years from the date of Closing, subject to acceleration.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (CCY.F) today announced that Don Baxter has joined the Board of Directors of the company. Don Baxter is one of the premier graphite experts outside of China, having built one of only two producing graphite mines in North America. “Don brings to Ceylon experience, ideas and capabilities we cannot find anywhere else,” said Bharat Parashar, Chief Executive Officer.

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (CYL.V) (CYLYF) (CCY.F) today announced that its wholly owned subsidiary Sarcon Development (Pvt) Ltd (“Sarcon”) has started commercial production at its K1 Graphite Mining Project at Karasnagla, Sri Lanka (the “K1 Project”). “We are finally in commercial production mode and look forward to selling our first container of Sri Lankan vein graphite- today we have brought 2 tons of raw graphite to the surface,” said Bharat Parashar, Chief Executive Officer.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (CCY.F) today announced that its wholly owned subsidiary Sarcon Development (Pvt) Ltd (“Sarcon”) has been granted an Environmental Protection License (“EPL”) for its K1 Graphite Mining Project at Karasnagla, Sri Lanka from the Central Environmental Authority bearing No 17501 (R0) dated 14th October 2019 under provisions of the National Environmental Act 47 of 1980 and amended by Acts No 56 of 1988 and No 53 of 2000, of the Government of Sri Lanka. The CEA is the Environmental Regulator in Sri Lanka and was established by an Act of Parliament.

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (CYL.V) (CYLYF) (FSE: CCY) announces its intention to complete a non-brokered private placement of units and to amend the terms of convertible debentures issued by Ceylon Graphite on May 23, 2018. The Company proposes to complete a non-brokered private placement of units (“Units”) at a price of $0.08 per Unit for gross proceed of up to $1,250,000.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (CCY.F) today announced that its wholly owned subsidiary Sarcon Development (Pvt) Ltd has been granted an Industrial Mining License Category A for its K1 Graphite Mining Project at Karasnagla, Sri Lanka from the Geological Survey and Mines Bureau (“GSMB”) under provisions of the Mines and Minerals Act No 33 of 1992 as amended by the Mines and Minerals (Amendment) Act No 66 of 2009, of the Government of Sri Lanka. The GSMB is the Mining Regulator in Sri Lanka and was established by an Act of Parliament. An Industrial Mining License Category A is the highest category license in Sri Lanka and grants exclusive rights to mine, process and trade in graphite mined within the area specified in the license.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (FSE: CCY) is pleased to announce that it has received assay results of laboratory testing of graphite samples taken downhole in the shaft at its M1 site in the Malsiripura area in Sri Lanka. This new test result indicates a naturally occurring carbon content (Cg) of 99.2% which is vastly superior to most other natural graphite sources globally. The laboratory testing was done by the Sri Lanka Government’s Geological Survey and Mines Bureau’s laboratory.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (CCY.F) today announced that its wholly owned subsidiary Sarcon Development (Pvt) Ltd has received Environmental Approval for its K1 Graphite Mining Project at Karasnagala, Sri Lanka from the Central Environmental Authority (“CEA”) of the Government of Sri Lanka. This approval is under Regulation 9 (i) of the National Environmental (Procedure for approval of projects) Regulation No 1 of 1993 as amended by Gazette (Extra- Ordinary) No 1159/22 dated 22.11.2000. CEA approval is mandatory for any mining project in Sri Lanka as the approval lays out the basic terms under which the mine may be operated.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (CCY.F) today announced that it’s subsidiary JADs Enterprises (PVT) Ltd has been awarded an IMLB license by the Geological Survey and Mines Bureau (“GSMB”) of the Government of Sri Lanka for it’s M1 site in Melsiripura, Sri Lanka. “This is another step in the right direction,” said Bharat Parashar, Chief Executive Officer. Robert Marvin, P. Geo (ONT) is a Qualified Person under National Instrument 43-101 and has reviewed and approved the geological information provided in this news release.

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (CYL.V) (CYLYF) (CCY.F) at the request of the Investment Industry Regulatory Organization of Canada, hereby retracts and corrects certain statements made in its news release dated July 2, 2019.

Ceylon Graphite Corp. (“Ceylon Graphite”) (CYL.V) (CYLYF) (CCY.F) today announced that it has a made another large new discovery of a 55cm (1ft 6inches) wide crystalline graphite vein at its H1 site, in Meewitiya, Sri Lanka, N-216453 E-130314 under EL/222/R/2. The discovery was made during the digging of a new shaft at the site. This discovery, coupled with the recent M1 discovery of another large crystalline graphite vein, clearly shows the robust potential of the Ceylon Graphite land bank. Ceylon Graphite also announced that American Energy Technologies Company has tested samples of graphite from the K1 and M1 sites and has certified that through simple Thermal Purification these samples can easily be upgraded and meet the specifications of marketable battery grade graphite.